How To Open a US Bank Account

If you’re here, you’ve likely decided on or are strongly considering opening a US Bank account. US Bank is the fifth-largest bank in America, with more than 70,000 employees and nearly $500 billion in assets, meaning they have the size and structure to suit your needs wherever you may be.

A recent GOBankingRates survey found that more than 30% of Americans don’t have bank accounts. And many who do never consider moving their assets to another bank — even when they’re offered lucrative sign-up bonuses to do so. Whether you’re a first-time bank account owner or you have experience across multiple banks, opening a US Bank account is simple.

This guide will cover every step to opening an account with US Bank, as well as main account features, how to avoid fees and whether US Bank is the right choice for you.

Steps To Open a US Bank Account

If you’re wondering how to open a US Bank account, you’ve come to the right place. This guide will give you detailed instructions on finding the right account for you, what documents you’ll need to open it, how to apply in person or online and more.

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1. Determine Which Bank Account You Want To Open

The US Bank account you want to open depends on your current banking needs. Are you looking for a bill-pay account to use for rent, utilities and other monthly expenses? Or do you need a secure place to grow that new car fund?

US Bank has a bevy of checking, savings, CD, investing and retirement accounts, but for the sake of simplicity, we’ll talk mostly about its checking and savings options.

If you need an account to pay bills and transfer money from, here are US Bank’s checking account options:

Easy Checking: Best for people who don’t need much from their bank; fewer fees and hassle

Gold Checking: Best for people also looking to use a US Bank credit card or loan

Platinum Checking: Best for people with more money to deposit who want to earn interest

Student Checking: Best for students

Safe Debit Account: Best for people new to banking; no checks or overdraft fees

If you need an account to store a rainy day fund, money for college or just about any other long-term savings, here are US Bank’s savings accounts:

Standard Savings Account: Best for first-time savers with lower balances

Platinum Select Money Market Savings: Best for people who also have a Platinum Checking Account

Package Money Market Savings: Best for people who also have a Gold Checking Account

Elite Money Market Account: Best for people with a higher balance who want to earn more interest

Retirement Money Market: Best for retirement planners who want a tax-advantaged account

2. Gather Your Personal Information

You may be asking yourself “What do I need to open a US Bank account?” Well, here are the US Bank account opening requirements. Whether you’re applying for an account online or in person, you’ll still need these documents and information.

Social Security number

Driver’s license, state-issued ID or military ID (must be at least 18)

Contact information (phone number, email, address)

Opening deposit

The amount of the opening deposit will depend on the account, which an online application can tell you. If you’re opening the account in person, you can call the bank to see how much cash to bring ahead of time, or simply pay via a debit, credit or prepaid card from another institution.

US Bank Account Fees and Features

You may be wondering “What are US Bank’s account types?” Like any other major bank, US Bank gives you access to a range of checking, savings, CD, brokerage and retirement accounts. This section will go over the main fees and features of US Bank checking and savings accounts.

Checking Account Fees and Features

US Bank has fees for all accounts, save for the Student Checking account, however, it is fairly easy to get these fees waived if you maintain the minimum balance or schedule recurring direct deposits.

The benefit of banking with a larger institution is the variety of products and services offered. US Bank has checking accounts suited to first-time bank users, students, low-maintenance customers, customers with higher balances and customers seeking an interest-bearing account. It’s just about knowing what you’re looking for.

US Bank Checking Accounts at a Glance

Fees and Features

Easy Checking

Gold Checking

Platinum Checking

Student Checking

Safe Debit Account

Minimum opening deposit

$25

$25

$25

$25

$25

Monthly service charge

$6.95 (may qualify to waive fee)

$14.95 (may qualify to waive fee)

$24.95 (may qualify to waive fee)

$0

$4.95 (can’t be waived)

Out-of-network ATM withdrawal fee

$2.50

$0 for first two withdrawals every month, then $2.50

$0

$0 for first four withdrawals every month, then $2.50

$2.50

Overdraft fee

$36 for an overdraft of more than $5

$36 for an overdraft of more than $5

$36 for an overdraft of more than $5

$36 for an overdraft of more than $5

$0

Benefits

Low minimum deposit and threshold to waive fees

100 free trades a year with a self-directed brokerage account

Interest-bearing account with 100 free trades a year through a brokerage account

Savings Account Fees and Features

Most of US Bank’s savings accounts don’t have monthly maintenance fees, although they do require minimum deposits of $25 to $100. It should be noted that, like the vast majority of savings accounts, there is a fee of $15 for withdrawals beyond the allotted amount of six per month.

US Bank has savings accounts suited to many different types of banking customers. If you’re a first-time bank user, don’t have much cash to store, are searching for savings and checking packages or seeking a higher interest-bearing account, you can find what you need at US Bank.

Monitoring and Protecting Your Bank Account

The main reason that so many Americans won’t use online banking is the fear of fraud. But there are things you can do to help prevent this from happening. And, if you do become a victim of fraud, be assured that US Bank accounts are FDIC insured up to $250,000, so as long as you’re below that amount, you’ll get your money back.

Here are some steps you can take to avoid fraud:

Use strong passwords.

Enable two-factor authentication, meaning your account is accessed with a two-step process including a password and fingerprint or face scan.

Install cybersecurity protection on your computer and phone.

Monitor your transaction history for suspicious activity.

Turn on online banking alerts so you’ll be notified of each transaction.

Should You Open a US Bank Account?

US Bank has a wide variety of banking products and services, so finding an account that meets your needs shouldn’t be difficult. If you prioritize easy ATM and branch access, as well as a simple online and mobile banking interface, then US Bank could be the right choice for you.

However, keep in mind that US Bank’s highest interest rate offered on a savings account is only 0.05%, and that’s on balances of six figures or more. This is below the national average and well below what most online banks can offer you, as they have no overhead costs.

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Your decision to open a US Bank account is just that: yours. So if you’re into simple, easy-access banking, then US Bank is a great fit for you. But if you don’t mind sacrificing physical banking for a better interest rate, then you may want to look at an online bank.

This content is not provided by US Bank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by US Bank.

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About the Author

Levi is a writer and editor based in Los Angeles. With a background in both print and digital publications, he’s written primarily about military lifestyle and politics and is now transitioning to personal finance.

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